LendEra Lending Coin ICO

The initial coin offering market is currency flooded with hundreds of “lending” ICOs. The platforms are- in the best cases- essentially variations on high yield investment programs, and in the worst cases are simply elaborate ponzi schemes.

Typically, lending platforms or lending ICOs appropriate terminology from blockchain technology in an attempt to confuse potential investors and obfuscate their true nature. Virtually all lending ICOs work like this: investors are presented with the opportunity to purchase tokens on a platform and “lend” them to the platform itself, thereby generating a guaranteed return on investment.

Some lending ICOs go to great lengths to explain exactly how these profits are generated, referencing “highly advanced trading bots” or other similar magic bullet solutions. Assessing these platforms critically reveals that these solutions are likely a fraud- if a platform possessed a “guaranteed to win” trading bot, why would then need an ICO to generate startup capital?

Lending ICOs function in the same manner as high yield investment programs. While there may be a small number of legitimate high yield investment programs, the vast majority of them simply pay out withdrawal requests from older investors with new investor capital, and are thus nothing more than Ponzi schemes.

In order to protect yourself from getting scammed by lending platforms and other similar cryptocurrency frauds, it’s essential to ensure that any ICO you’re considering investing in provides a comprehensive white paper, information about the owners and founders of the project, is backed up by a quality platform or website that delivers the core concept succinctly, and delivers a clearly disruptive, innovative, or profitable solution.

In most cases, lending ICOs possess none of these attributes, and are designed to separate unsuspecting investors from their crypto as fast as possible. In this article, we’ll take a look at the LendEra Lending Coin ICO, which is a prime example of a clearly fraudulent lending ICO that is destined to fail.

What is LendEra Lending Coin ICO?

LendEra Lending Coin ICO is an upcoming lending ICO that promises users all of the standard benefits that are expected from the average crypto, such as reduced transaction times, decentralization, and other common crypto adages.

LendEra is being launched on the Waves platform, which makes creating tokens or launching ICOs incredibly easy. LendEra does make a white paper available regarding their project, but it’s an extremely frustrating read.

LendEra doesn’t provide any information about how the profits they deliver are generated, and present their potential investors with a white paper that is riddled with broken english and poor grammar. Hilariously, the LendEra creators have addressed the fact that they wish to remain anonymous, citing the fact that the sheer amount of profit they are likely to generate will attract unwanted governmental attention.

In an ironic move, the LendEra white paper even provides assurance that the platform is indeed “not a scam”, stating “if we defrauded you, we will lose the value of that money in our stash that you can quickly verify it on the blockchain explorer once we release it”, a statement that makes no sense whatsoever.

Lendera are releasing a total of 16,000,000 LEC coins, with an ICO price of $0.85 for the first round and the last round is $1.05. After the ICO, Lendera predicts – on a baseless assumption- that the value of these tokens will increase to $5.00 USD.

Is LendEra a Scam?

Yes.

LendEra Lending Coin ICO Verdict

Overall, it’s extremely obvious that Lendera is a scam, and should be avoided at all costs. As a general rule, it’s an extremely bad idea to invest in any ICO that doesn’t provide information and social proofs that the creators are experienced, innovative experts that can offer a disruptive solution. Our advice regarding Lendera? Stay away.

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4 COMMENTS

  1. We appreciate the exposure, you have started to let people knows about our ICO before we even realease our whitepaper or website, even before we announce it.

    thats amazing, but i have to say that you really need to do better homework on reading our whitepaper, especially the part where you got the numbers, which you claim that we are claiming the value of LendEra.

    and the ICO price is not $1.66, its $0.85 for the first round and the last round is $1.05, so the $1.66 is also not correct.

    There is many things you need to learn about cryptocurrencies before claiming that this coin is a fraud or not.

    i don’t see how that makes you any different from JP Morgan.

  2. My Etherium balance disappeared after they released a message that balances have been fixed. Tickets impliy they dont believe or deny it gone, even with the txid that clearly has them withdrawing it and others but on the sites history it now says 0 as the deposit for Etherium.

  3. The Lendera team is doing the best thing they can do to resolve issue and that is normal for a platform that is just starting and the etherium issue they are trying to fix that, and what is more important is that they are tyring the best thing to keep us inform on what is happening on the platform and that is a good sign to a sincere, honest to goodnest group of people…

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